MS to Buy Back Shares Worth 70 Trillion Won... Also Increasing Quarterly Dividends
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[Asia Economy Reporter Kwon Jae-hee] Microsoft (MS) announced a plan to repurchase up to $60 billion (approximately 70.26 trillion KRW) of its own shares, Bloomberg reported on the 14th (local time).
However, MS did not specify a concrete deadline for the share repurchase.
This share repurchase plan exceeds the $40 billion announced in September 2019.
MS also decided to increase its quarterly dividend by 6 cents from the previous quarter to 62 cents.
Additionally, MS announced the appointment of Brad Smith, the current President and Chief Legal Officer (CLO), as Vice Chairman.
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Bloomberg noted that in MS's case, the Vice Chairman is not a board member, and Smith will continue to report directly to Satya Nadella, CEO and Chairman of the Board.
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